Spain Halts Venezuelan Oil Imports Amid U.S. Sanctions
Spain stopped importing crude oil from Venezuela in April ahead of a U.S. sanctions deadline. This affected operations of Spain's leading oil company, Repsol, which had up to May 27 to wind down its Venezuelan operations. Talks are ongoing with U.S. authorities to find ways to maintain operations.
- Country:
- Spain
Spain ceased importing Venezuelan crude oil in April as a crucial U.S. sanctions deadline approached, marking a significant shift in energy relations. With the halt, Spain's largest oil firm, Repsol, faces the challenge of winding down its Venezuelan operations by May 27, following a permit cancellation.
The permit previously enabled Repsol to receive oil from Venezuela's state-owned PDVSA in debt settlements. This month marked a departure from the sharp import increases seen in 2024 and early in 2025, according to data from Spain's energy and environment department.
In response, Repsol has engaged in ongoing negotiations with U.S. officials, including a meeting between CEO Josu Jon Imaz and U.S. Energy Secretary Chris Wright. Venezuelan President Nicolas Maduro condemned the U.S. sanctions, labeling them an 'economic war' aimed at debilitating the nation.
(With inputs from agencies.)
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